
| Circus Starr Launches as a Community Interest Company |
In February 2011 Circus Starr launched as a Community Interest Company or CIC for short. We are proud to join over 3,100 CIC’s ranging from tiny community based organisations to multimillion pound enterprises.
CIC’s were introduced by the United Kingdom government in 2005 and designed for Social Enterprises, which Circus Starr became in June 2010.
It is for companies that want to use their profits and assets for the public good. This means that a CIC cannot be formed or used solely for the personal gain of a particular person, or group of people.
Starr in the Community CIC is a company limited by guarantee, in simple terms this means that profits can not be shared – meaning we are truly a not for profit organisation. This ensures the assets and profits can be either retained within the company for community purposes, or transferred to another organisation and in our case onto our charity partners.
Neville Wilson Circus Starr Director comments on the launch “I am absolutely delighted that Circus Starr has become a Community Interest Company which will benefit our efforts to raise funds for the charities we support in the UK. Our partner charities provide a service to the community and are not always given the exposure and help they deserve and need. The strength of Circus Starr is that we are able to offer a fund raising facility for the charity without them having to contribute valuable time and effort to the event.”
Starr in Community CIC launched in February 2011 but will remain under the trading name of Circus Starr.
For more information on Community Interest Companies please go to –
http://www.cicregulator.gov.uk/
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